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By Gus G. Sentementes, The Baltimore Sun | October 12, 2011
Maryland's attorney general alleged Wednesday that a Baltimore man had defrauded investors of nearly $500,000 and ordered him to stop selling securities and acting as an investment advisor, activities for which he was not registered. Attorney General Douglas F. Gansler is seeking fines and a permanent ban from the securities industry for Casey Charles and his company, Infinite Equity Strategies LLC. In a cease-and-desist order, the state accused Charles of transferring retirement funds of investors to an out-of-state company, which later transferred the money to his own bank accounts.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 14, 2013
A Westminster man was sentenced to 37 months in prison Wednesday for securities fraud related to the sale of $1.9 million in stock in his company, according to federal prosecutors. John F. "Jef" Curran III also was ordered to repay $1.25 million to investors in Gargoyles Inc., which claimed to be an advanced materials application company doing business with the military and law enforcement, said the U.S. Attorney in Maryland. Curran, 44, sold the shares between January 2009 to September 2010.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 14, 2013
A Westminster man was sentenced to 37 months in prison Wednesday for securities fraud related to the sale of $1.9 million in stock in his company, according to federal prosecutors. John F. "Jef" Curran III also was ordered to repay $1.25 million to investors in Gargoyles Inc., which claimed to be an advanced materials application company doing business with the military and law enforcement, said the U.S. Attorney in Maryland. Curran, 44, sold the shares between January 2009 to September 2010.
NEWS
By Kevin Rector, The Baltimore Sun | November 28, 2012
Former Orioles third baseman Doug DeCinces was indicted Wednesday, along with three friends, by a federal grand jury in California on securities fraud charges, for allegedly cashing in on inside information about the acquisition of an Orange County medical company, prosecutors said. The criminal indictment is the latest fallout related to the acquisition, which previously resulted in DeCinces and Hall of Fame former Oriole Eddie Murray — who was not named in Wednesday's indictment — paying civil settlements to the Securities and Exchange Commission last year and in August, respectively.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 9, 2010
An administrative law judge has dismissed allegations that the former general counsel of Ferris, Baker Watts Inc., Theodore W. Urban, failed in his supervision of a broker who was subsequently convicted in a fraud that cost clients millions of dollars. The judge's opinion, filed this week, could mark the end of the last federal prosecution into the trading scandal that revealed a lack of leadership, an unclear chain of command and missed opportunities to stop the scheme at the former Baltimore brokerage firm.
BUSINESS
By Lyle Denniston and Lyle Denniston,Washington Bureau of The Sun | March 1, 1995
WASHINGTON -- Splitting 5-4, the Supreme Court ruled yesterday that a tough 1933 law against fraud in offering stocks applies only when the securities are first put up for sale to the public, not when they are resold on the market or sold in private placements.The court, in narrowing a section of the 62-year-old Securities Act, disagreed with the Securities and Exchange Commission and a number of lower courts.At issue in the case was the scope of a ban on using falsity, misleading statements or factual omissions in offering a stock through "a prospectus or oral communication."
NEWS
By Matthew Dolan and Matthew Dolan,SUN STAFF | June 23, 2005
Federal prosecutors have filed stock fraud charges against a senior vice president of the Baltimore company once run by Nathan A. Chapman Jr., the pension fund manager convicted last year of defrauding the state retirement system of millions of dollars, the U.S. attorney's office said yesterday. A federal grand jury in Baltimore returned an indictment against Daniel Baldwin Jr., 48, of Randallstown on June 14, charging him with securities fraud, providing false statements to the FBI and lying to a grand jury in the June 2000 public stock sale of eChapman.
NEWS
By Mark Ribbing and Mark Ribbing,SUN STAFF | April 15, 2000
In Richard Scott's fraud case, no assumption has provedsafe: Friendships have been revealed as frauds, gurus unmasked as charlatans and large amounts of money reduced to worthless paper. So perhaps it was fitting that the day the former Camp Springs coin-and-stamp dealer was to have been sentenced for cheating about 100 people out of more than $8 million -- including author and Orioles co-owner Tom Clancy -- the court decided yesterday to postpone its decision because of the defendant's failing health.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | March 11, 1995
Maryland may be less affected than much of the nation by a bill that limits fraud lawsuits filed by shareholders, because federal courts in the state have aggressively used existing law to protect companies from unwarranted or frivolous suits.The House of Representatives Wednesday passed sweeping restrictions on securities fraud lawsuits by a vote of 325-99, giving the curbs on shareholder suits much broader bipartisan support than other changes in the legal system proposed in the Republican majority's "Contract With America."
BUSINESS
By Los Angeles Times | December 5, 1991
LOS ANGELES -- Charles H. Keating Jr., who became a national symbol of greed and excess in the thrift industry, has been convicted of securities fraud stemming from the sale of his company's bonds at Lincoln Savings & Loan branches.A group of bondholders held hands tightly, smiled broadly and barely suppressed cheers as the court clerk read each of the 17 guilty verdicts.The conviction in Los Angeles County Superior Court ended a long, complex trial that for the first time probed some of the events surrounding Lincoln's 1989 collapse, the largest thrift failure in U.S. history.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | October 12, 2011
Maryland's attorney general alleged Wednesday that a Baltimore man had defrauded investors of nearly $500,000 and ordered him to stop selling securities and acting as an investment advisor, activities for which he was not registered. Attorney General Douglas F. Gansler is seeking fines and a permanent ban from the securities industry for Casey Charles and his company, Infinite Equity Strategies LLC. In a cease-and-desist order, the state accused Charles of transferring retirement funds of investors to an out-of-state company, which later transferred the money to his own bank accounts.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 9, 2010
An administrative law judge has dismissed allegations that the former general counsel of Ferris, Baker Watts Inc., Theodore W. Urban, failed in his supervision of a broker who was subsequently convicted in a fraud that cost clients millions of dollars. The judge's opinion, filed this week, could mark the end of the last federal prosecution into the trading scandal that revealed a lack of leadership, an unclear chain of command and missed opportunities to stop the scheme at the former Baltimore brokerage firm.
BUSINESS
By Paul Adams and Paul Adams,Sun reporter | December 15, 2007
An Ohio investment fund manager who used accounts at Baltimore brokerage Ferris Baker Watts to carry out a stock manipulation scheme was sentenced to 13 years in federal prison yesterday. David A. Dadante pleaded guilty in August to two counts of securities fraud. Dadante's broker at Ferris, Stephen J. Glantz, was sentenced to 33 months Thursday for aiding the fraud. A second broker, from the Connecticut-based Advest Group, was charged with securities fraud in the case Wednesday. All three men were charged in U.S. District Court in Cleveland.
BUSINESS
By Paul Adams and Paul Adams,Sun reporter | December 14, 2007
A former Ferris Baker Watts broker was sentenced yesterday to 33 months in federal prison and ordered to pay restitution for helping a client manipulate the share price of a thinly traded Georgia company. Stephen J. Glantz, 54, left the brokerage in late 2005 and is the only person connected to Ferris to be criminally charged in the investigation. But the case has ensnared the Baltimore brokerage in a years-long investigation by the Securities and Exchange Commission, which has been coordinating with U.S. Justice Department officials in their probe of the matter.
BUSINESS
By Paul Adams and Paul Adams,Sun reporter | December 13, 2007
In January 2003, Stephen J. Glantz left the Advest brokerage in Ohio and went to work for Ferris Baker Watts, bringing with him a solid book of business and a big client named David A. Dadante. For the century-old Baltimore brokerage, it was the start of a legal and financial debacle that will linger long after Glantz and Dadante are sentenced this week for their roles in a stock-manipulation scheme involving Ferris' trading desk. The firm faces a continuing federal investigation and several civil lawsuits that could take years to untangle.
NEWS
By Paul Adams and Paul Adams,sun reporter | September 5, 2007
U.S. attorneys in Cleveland say a former Ferris Baker Watts broker played a central role in a multimillion-dollar stock manipulation scheme that led to a management shake-up at the Baltimore firm this year. Prosecutors charged Stephen J. Glantz, who left Ferris in 2005, with one count of securities fraud and one count of lying to investigators yesterday for what they say was his part in a plan to artificially raise the share price of Duluth, Ga.-based Innotrac Corp. The fraud, which collapsed in November 2005, led to investors essentially overpaying for the stock, which is worth less than one-fifth of its value at its peak.
BUSINESS
By BLOOMBERG NEWS | February 26, 2002
EXETER, N.H. - A U.S. judge dismissed Friday a class action lawsuit against Tyco International Ltd. that originated in 1999 amid accounting fraud allegations and a Securities and Exchange Commission inquiry into how the company reported acquisition costs. Paul Barbadoro, chief judge of the U.S. District Court in Concord, N.H., said the allegations were "untimely," unreasonable, lacked specifics and fell "well short of stating a viable securities fraud claim." A new round of lawsuits has been filed since Chief Executive Officer L. Dennis Kozlowski said last month that the company would split into four and sell its plastics unit, cutting Tyco's stock price by more than half.
BUSINESS
By Bloomberg News | September 28, 2006
NEW YORK -- Jacob "Kobi" Alexander, the former Comverse Technology Inc. chief executive officer who became a fugitive after being charged with securities fraud, was arrested yesterday in Namibia. Alexander, the former Israeli intelligence officer turned high-tech entrepreneur, will be brought before a court in Windhoek, Namibia, within 48 hours, and the United States will seek his extradition, the Justice Department said. Federal prosecutors charged Alexander, 54, Aug. 9 with backdating stock options to boost the compensation of executives at Comverse, the world's largest maker of voice mail software.
BUSINESS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | February 17, 2006
Two outside auditors found evidence early on of the irregularities that later enveloped U.S. Foodservice Inc. in a billion-dollar accounting scandal, but ignored several red flags and didn't pass on what they uncovered, the Securities and Exchange Commission contended yester- day. The federal regulatory agency released a report yesterday that accused Kevin M. Hall, 51, and Rosemary K. Meyer, 35, both partners at the Baltimore office of the accounting firm...
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